1. A corporation issues 4,900 shares of common stock for $156,800. The stock has a...
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Accounting
1. A corporation issues 4,900 shares of common stock for $156,800. The stock has a stated value of $18 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include?
Select the correct answer.
A. $156,800
B. $4,900
C. $68,600
D. $88,200
2.
| Harding Company | |
| Accounts payable | $ 40,000 |
| Accounts receivable | 65,000 |
| Accrued liabilities | 7,000 |
| Cash | 30,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 110,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 30,000 |
| Property, plant, and equipment | 625,000 |
| Prepaid expenses | 2,000 |
Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point?
A. 1.7
B. 2.6
C.0.9
D. 2.7
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